Perfect Paint mixes ingredients A ($30/liter), B ($20/liter), and C ($25/liter) in the ratio 3:2:1 to make their product. Calculate the cost per liter of the final mixture. (Financial Accounting) 4 marks Answer?
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Perfect Paint mixes ingredients A ($30/liter), B ($20/liter), and C ($25/liter) in the ratio 3:2:1 to make their product. Calculate the cost per liter of the final mixture. (Financial Accounting) 4 marks Answer?
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- Perfect paint mixes ingredients4 marksUse the following standard cost and actual information to calculate the cost of 1 gallon of ice cream to answer the questions below. Product: Gallon of Ice Cream Manufacturing Cost Information Standard Standard Cost Cost per Unit $1.00 per quart $38.00 per hour Quantity Summary $6.00 $1.90 $7.90 Direct Materials 6 quarts Direct Labor 3 minutes Total Direct Costs Actual costs incurred to make 50 gallons of ice cream: • 275 quarts of cream at $1.05 per gallon • 165 minutes of labor at $37.00 per hour (60 minutes = 1 hour) (a) Calculate the material price variance
- For many years, Sinclair Graphic Design has provided design and digital-printing services for indoor banners. The nylon banners, which come in a standard size, are used for a variety of purposes, including trade shows, sporting events, and other promotional activities. Three years ago, the company introduced a second printing and production service for outdoor banners that has become increasingly popular. The outdoor banners are a more complex product than the indoor banners, requiring weatherproof vinyl materials and a different printing process to improve the visibility of the text and graphics content. Moreover, outdoor banners are printed in smaller production runs because of less frequent orders; the setup of the printing equipment takes longer; and, since higher durability is needed to withstand the elements, more quality inspections are needed. Under the traditional costing approach, overhead costs are assigned to the products on the basis of direct labour-hours. Despite the…Convert the accompanying database to an Excel table to find: a.The total cost of all orders. b.Thetotal quantity of airframe fasteners purchased. c. The total cost of all orders placed with Manley Valve. Question content area bottom Part 1 a. The total cost of all orders is $?????? enter your response here.Use the following standard cost card for 1 gallon of ice cream to answer the questions. STANDARD COST CARD Product: Gallon of Ice Cream Manufactering cost info Standard Quantity x standard cost per unitx x cost summary direct materials cream sugar 5 quarts 16 ounces x $1.15 per quart $0.08 per ounce x $5.75 $1.28 direct labor 3 min x $36.00 per hour x $1.80 total direct costs x x $8.83 Actual direct costs incurred to make 50 gallons of ice cream: 275 quarts of cream at $1.05 per quart 832 ounces of sugar at $0.075 per ounce 165 minutes of labor at $37 per hour All material used was bought during the current period. Required: Compute the material and labor variances. Comment on the results and possible causes of the variances.
- What would be the best equation using the high-low method?Please provide answer with detailed working, please answer in text form, without imageProblems 1. Use the following standard cost card for 1 gallon of ice cream to answer the questions. Product: Gallon of Ice Cream Manufacturing Costs Direct Materials Cream Sugar Direct Labor Total Direct Costs K Standard Cost Card Standard Quantity 5 quarts 16 ounces 3 minutes x Standard Cost per Unit $1.15 per quart $.08 per ounce $36.00 per hour Actual direct costs incurred to make 50 gallons of ice cream: • 275 quarts of cream at $1.05 per quart • 832 ounces of sugar at $0.075 per ounce • 165 minutes of labor at $37 per hour All material used was bought during the current period. = Cost Summary $5.75 $1.28 $1.80 $8.83 a. Compute the material price, quantity and total variances. b. Compute the labor price quantity, and total variances. What are possible causes of the material and labor variances with respect to the company?
- A small company manufactures a certain item and sells it online. The company has a business model where the cost, C in dollars, to make x items is given by the equation C = 20/3 x + 50. The revenue R , in dollars , made by selling x items is given by the equation R = 10x. How many items must the company sell in order for the cost to equal their revenue?Want Answer•Use the following information for the next 3 questions (3, 4 &5). Division X sells organic high-gluten flour to Division Y. Division X incurs costs of $0.4 per pound of flour. Division Y makes loaves of bread that sell for $2 each. Division Y incurs costs of $1.3 per loaf, excluding the cost of the flour. Eachloafofbreaduses0.25poundofflour. Transferpriceissetat$0.6/lb. 3. What is the operating income per pound of flour for Division X? 4. What is the operating income per loaf for Division Y? 5. What is the operating income per loaf for the entire organization?